Roth Capital Downgrades Acushnet Holdings (GOLF) to Neutral

Roth Capital analyst George Kelly downgraded Acushnet Holdings (NYSE: GOLF) from Buy to Neutral with a price target of $45.00 (from $62.00).

The analyst comments "We are downgrading GOLF to Neutral and lowering our PT to $45. We believe GOLF has elevated risk given the weakening US/international consumer environment and unfavorable FX. Our FY23 estimates move slightly lower, and there could be additional downside if equipment trends worsen (which has yet to happen). While GOLF does operate a high-quality business and financial model, we see more compelling value elsewhere."

For an analyst ratings summary and ratings history on Acushnet Holdings click here. For more ratings news on Acushnet Holdings click here.

Shares of Acushnet Holdings closed at $45.76 yesterday.

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